One of the reasons that has tried to explain the origin of the latest economic crisis, although now that I think some people use it to explain all of them, is the existence of banking crises fed by an excess of credit. The argument presented is based on the nature of the banking business. According to the traditional thesis, banks are intermediaries that put savers in contact with debtors, transferring funds from one to the other and keeping a percentage of them as mandatory reserves.

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